Ryanair's 737MAX-10 order lowers unit cost and boosts Boeing

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Ryanair's 9-May-2023 order of 150 firm and 150 options for Boeing 737MAX-10 aircraft was not really a surprise. However, it was significant both for Ryanair and for Boeing.

The 228 seat configuration planned by Ryanair for its new aircraft is 21% more than its 189 seat 737-800s and 16% more than its 197 seat MAX-8200s. This should allow for a lower cost per seat and closer competition against Wizz Air's 239 seat Airbus A321neos.

If Ryanair exercises all the options, its fleet could grow from 537 at the end of Mar-2023 to 800 in FY2034. The order puts Ryanair on a course to reach 300 million passengers pa in FY2034.

The order is also good news for Boeing, whose MAX-10 is yet to be certified and whose MAX programme overall considerably lags that of the Airbus A320neo programme.

This report considers Ryanair's order and also provides contextual data on 737MAX and the A320neo aircraft numbers.

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